Wednesday, August 10, 2022
Chuck Marunde, J.D., Broker/Owner 360-775-5424


iRealty Virtual Brokers


Broker/Consultant

Washington State

SUBSCRIBE
Light/Dark Toggle
  • Home
  • Search MLS
    • Sequim MLS
    • Sequim MLS Map Search
    • Port Angeles MLS
    • Port Townsend MLS
    • San Juan Islands MLS
    • All Islands MLS
    • How to Search the Sequim MLS
  • Videos
    • Sequim Videos Q&A
    • Buyer Videos Part 1
    • Buyer Videos Part 2
    • Buyer Videos Part 3
    • Buyer Videos Part 4
    • Living in Sequim Video Channel
  • Books
    • Sequim Real Estate for Buyers (Free eBook Updates Forever)
    • Sequim Real Estate: A Buyer’s Guide (Paperback)
    • Escaping California to The San Juan Islands
      • Menu Below
    • Buying & Selling Real Estate in The Rain Shadow
    • Real Estate From Bricks & Mortar to High Tech Virtuality
    • The Seven Myths of Selling Your Home
    • Buying Your Retirement Home
    • The New World of Marketing for Real Estate Agents
  • Agents
    • Professional Buyer’s Agent
    • Flat Fee Listing Broker
Tetralogy
No Result
View All Result
  • Login
  • Register
  • Home
  • Search MLS
    • Sequim MLS
    • Sequim MLS Map Search
    • Port Angeles MLS
    • Port Townsend MLS
    • San Juan Islands MLS
    • All Islands MLS
    • How to Search the Sequim MLS
  • Videos
    • Sequim Videos Q&A
    • Buyer Videos Part 1
    • Buyer Videos Part 2
    • Buyer Videos Part 3
    • Buyer Videos Part 4
    • Living in Sequim Video Channel
  • Books
    • Sequim Real Estate for Buyers (Free eBook Updates Forever)
    • Sequim Real Estate: A Buyer’s Guide (Paperback)
    • Escaping California to The San Juan Islands
      • Menu Below
    • Buying & Selling Real Estate in The Rain Shadow
    • Real Estate From Bricks & Mortar to High Tech Virtuality
    • The Seven Myths of Selling Your Home
    • Buying Your Retirement Home
    • The New World of Marketing for Real Estate Agents
  • Agents
    • Professional Buyer’s Agent
    • Flat Fee Listing Broker
No Result
View All Result
iRealty Virtual Brokers
No Result
View All Result
Home Negotiating Price

The Biggest Key to Negotiating Sequim Real Estate

Chuck Marunde by Chuck Marunde
August 2, 2022
Reading Time: 3 mins read
0 0
0
Negotiating Price:  Killing the Deal

Negotiating Sequim real estate prices or the terms of a transaction involves some key elements to arrive at a final agreement.  But I have come to realize that there are two critical components to a successful negotiation, and if you are missing one of these, your transaction may go up in flames.  You or your Realtor must be good at both of these.

Good written communications are an absolute requirement to effectively negotiate the price and terms of a real estate transaction.  Honestly, I’ve learned this from the school of hard knocks, mostly from negotiating with opposing parties who are horrible at written communications.  Imagine for a moment that you are a buyer negotiating to buy a home in Sequim or Port Angeles.  Now imagine that the seller or the seller’s agent has drafted ambiguous language in an addendum addressing an important issue.  As you often end up with counter addendums and a counter to the counter, a poorly drafted original addendum is like building a house upon a weak foundation.  The potential problem of dealing with bad language just gets worse.

But imagine that your agent cannot accurately convey in writing your wishes or your contractual demands.  That plays out to your detriment not only in the contract and the addendums, but in the email communications that go back and forth between you and your agent, and between your agent and the other agent.  Then you can only hope that the other agent can articulate the terms of the negotiation to his or her client.

It is an agent’s job to educate their client on the issues
being negotiated, so the client can make a fully informed
and wise decision.  If the client is not fully informed,
the default position is to reject the terms and kill the
transaction altogether.  The unintended consequences
leave the seller with a house still on the market,
wondering, “What the heck happened.”  By then,
it’s too late.  The buyer is gone forever.

A breakdown in these written communications that can involve dozens of emails and faxes often ends up with both sides feeling frustrated and convinced that the other side is not negotiating in good faith or that they are being stubborn and unreasonable.  I have seen this happen when the opposing agent is a poor communicator in writing, especially in emails these days.

Good oral communication skills are critical to effectively work through the negotiation process.  Some people are better communicators if they can just talk about it.  This is the auditory person.  Being great at oral communications is a good thing, but if the agent or seller you are dealing with is still lacking in written communications skills, you may still find you cannot get past all the critical language dealing with complex issues.

The Best Negotiation.   The best and most successful negotiation will involve real estate agents on both sides that are good or reasonably good at written and oral communications.  This gives the buyer and the seller the best possible opportunity to reach a reasonable agreement on all terms of the transaction.

I wrote this article because I have seen far too many transactions get killed by opposing parties who were ineffective communicators.  It is the lack of ability to communicate effectively in the negotiating process that often kills a transaction over the most minor and silly details.  Happens all the time.  Perhaps you can see why I harp so much on the importance of clients doing their due diligence when they hire a Realtor.  You certainly don’t have to hire me, but for goodness sakes hire a Realtor who is a good communicator if you want to substantially increase the probability of your success.

Last Updated on August 2, 2022 by Chuck Marunde

Tags: negotiatingSequim Real Estate
ShareTweet
Chuck Marunde

Chuck Marunde

Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and a dozen real estate books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their buyer's agent, and home owners around the State of Washington seek him out because of his new Flat Fee Listing Service.    Privacy   I hope you'll join our community and leave comments from time to time. Please realize that comments, if approved, will be public, so do not use any personal information you don't want broadcast to the world, and definitely don't leave a phone number. Comments are not the place to ask Chuck Marunde for help in finding a home. To do that, call or text Chuck. Privacy Policy   If you'd like to view how we protect your privacy, see our Privacy Policy.

Related Posts

Negotiating
Negotiating Price

Why Negotiating is Not for Amateurs

August 3, 2022
2
Negotiating Mistakes
Negotiating Price

Negotiating Mistakes Kill Deals

August 2, 2022
2
Negotiating Price

From Offer to Mutual Acceptance

September 6, 2019
1
Unmanaged Emotions
Negotiating Price

The Danger of Unmanaged Emotions in Negotiating

August 2, 2022
2
Negotiating Price

In Real Estate Knowledge is Power

September 6, 2019
2
Negotiating
Negotiating Price

What Makes Negotiating Hard?

August 2, 2022
2
Next Post

Last Chance for $8,000 First-Time Home Buyer's Credit

How to Buy Sequim Real Estate

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

"I wish I read this before selling my
home. I could have saved $50,000." Andy 

Search 2,200 Articles by Category

  • Trending
  • Comments
  • Latest
Buyer and Seller

What if a Buyer and Seller Talk to Each Other?

August 5, 2022
10 Best Places to Retire

Why is Sequim One Of The 10 Best Places To Retire?

September 22, 2019
Terminate a real estate contract

How to Terminate a Real Estate Contract

December 31, 2020

How to Prorate Propane at Closing

September 7, 2019
print newspapers

Print Newspapers Losing Readers to the Internet

42
FNMA Killing Transactions by Requiring Private Road Maintenance Agreements

FNMA Killing Transactions by Requiring Private Road Maintenance Agreements

31
Buyer and Seller

What if a Buyer and Seller Talk to Each Other?

26

What Documents Does a Buyer Need to Buy Real Estate?

24
transformer shortage

Transformer Shortage Stops Building New Homes

August 10, 2022
The 4 Most Powerful Real Estate Resources Packaged

The 4 Most Powerful Real Estate Resources Packaged

August 6, 2022
Real Estate Market Declining

Real Estate Bubble Popped

August 3, 2022
Flat Fee Listing Service Now in Washington

Flat Fee Listing Service Now in Washington

July 28, 2022

Subscribe to Chuck 
Marunde's Newsletter

Popular Stories

  • Buyer and Seller

    What if a Buyer and Seller Talk to Each Other?

    0 shares
    Share 0 Tweet 0
  • Why is Sequim One Of The 10 Best Places To Retire?

    0 shares
    Share 0 Tweet 0
  • How to Terminate a Real Estate Contract

    0 shares
    Share 0 Tweet 0
  • How to Prorate Propane at Closing

    0 shares
    Share 0 Tweet 0
  • Transformer Shortage Stops Building New Homes

    0 shares
    Share 0 Tweet 0

iRealty Virtual Brokers

iRealty Virtual Brokers reaches out to buyers around the United States with thousands of online articles, MLS sites, apps, real estate books, videos, and much more specifically to help buyers find all the answers to their questions. We also now offer a flat fee commission listing service that saves sellers tens of thousands of dollars.

iRealty Virtual Brokers
125 Olympic Ranch Ln
Sequim, Washington 98382
360-775-5424

See our Privacy Policy

The largest independent real estate blog in the State of Washington with over 2,200 articles totally focused on our client’s best interest, their needs and their curiosity. All free and 100% reliable. I’m here if you need me, 

© 2006-2022 iRealty Virtual Brokers and Chuck Marunde

No Result
View All Result
  • Home
  • Search MLS
    • Sequim MLS
    • Sequim MLS Map Search
    • Port Angeles MLS
    • Port Townsend MLS
    • San Juan Islands MLS
    • All Islands MLS
    • How to Search the Sequim MLS
  • Videos
    • Sequim Videos Q&A
    • Buyer Videos Part 1
    • Buyer Videos Part 2
    • Buyer Videos Part 3
    • Buyer Videos Part 4
    • Living in Sequim Video Channel
  • Books
    • Sequim Real Estate for Buyers (Free eBook Updates Forever)
    • Sequim Real Estate: A Buyer’s Guide (Paperback)
    • Escaping California to The San Juan Islands
      • Menu Below
    • Buying & Selling Real Estate in The Rain Shadow
    • Real Estate From Bricks & Mortar to High Tech Virtuality
    • The Seven Myths of Selling Your Home
    • Buying Your Retirement Home
    • The New World of Marketing for Real Estate Agents
  • Agents
    • Professional Buyer’s Agent
    • Flat Fee Listing Broker

© 2006-2022 iRealty Virtual Brokers and Chuck Marunde

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.